Global Fertilizers Market: Demand Analysis and Growth Forecast
As per the findings of a newly published market research report by IndustryARC, the global fertilizers market size was $61,530 million in 2018, and is estimated to grow with a CAGR of 3.67% during the forecast period 2019-2025. The information is presented in a new market research report from IndustryARC, titled: “Fertilizers Market: By Form, By Types and Sources, By Method of Application, By Crops, By Application, By Geography – Forecast (2019-2025).”
Browse Fertilizers Market Report Link: https://www.industryarc.com/PressRelease/633/Fertilizers-Market-Research.html
The analyst of the report attributes the growth primarily to emphasis on greater yield by farmers and emerging economies’ government emphasis on prosperity of farmers. For instance, the Government of India is providing 50% subsidy for all types of fertilizers. The fertilizers marketplace companies are continuously developing products to meet the range of site-and crop-specific conditions along with the nutrient management. Growing usage of fertilizers by farmers is to avoid depletion of soil quality, and also to obtain healthy crop yield. To increase the crop production in available acreage is simulating the farmers to use more fertilizers to gain faster outcomes. Increasing use of nitrogen-based fertilizers improves the crop resistance from insects and enhance their yield in paddy, corn, cotton, and barely crops. Moreover, there exists a high demand for the fertilizers to reduce the degradation of soil during the crop production.
Global Fertilizers Market: Leading Segments
The analyst of the report identifies that the horticulture application segment is currently the most profitable, holding major fertilizers market share and is projected to grow with a CAGR of around 3.7% during the forecast period. Horticulture crops use more fertilizers to obtain higher returns from orchards, and to improve the nutritional standards of the people by providing adequate supply of fruits and vegetables at affordable prices. Growing demand for less expensive, eco-friendly and sustainable bio-fertilizers, due to its greater significance in commercial horticultural crops such as potatoes, banana, and grapes.
Based on the geographical fertilizers market analysis gauged by the IndustryARC report, in 2018, APAC held the largest share, which accounts for more than 53% in the global fertilizers market. Owing to the increasing use of liquid fertilizers in hydroponic system field areas and availability of these fertilizers at subsidized rates in eminent countries such as China, India, Taiwan, and Indonesia of APAC are uplifting the growth of the fertilizers market. For instance, Taiwan actively started the production of efficient liquid and solid bio-fertilizers, to produce superior quality soybeans which cope up with the import demand from countries such as China, Japan, and Korea. These factors altogether retaining APAC to be the dominating region through to 2025
Global Fertilizers Market Trends
Organic agriculture system encouraging the sustainable production through organic fertilizers
Increasing adoption of bio-fertilizers in soil fertility management practices to maintain rich soil environment
Fertilizers market gaining traction from the farmers to manage climatic changes and to operate effectively even in water-scare environment
International Fertilization Association states that, 4R plant nutrients stewardship (the right nutrient source, at the right rate, in the rate place and at the right time) has endorsed farmers to increase their yields, incomes and livelihoods, to protect their agriculture land for valuable wild ecosystems.
Widespread of de-bottlenecking and energy saving method, drip irrigation by Indian fertilizer industry to reduce water consumption
Global Fertilizers Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority fertilizers market shares are: Agrium, Yara International, The Mosaic Company, Potash Corporation, and CF Industries.
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